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ITC on passenger vehicles shall be available when those are leased to vendors on rent

April 4, 2019[2019] 104 taxmann.com 86 (AAR - MADHYA PRADESH)
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CGST : Applicant, Goods transport agency service provider, is entitled to avail ITC on cars (passenger vehicles) which are further supplied to customers on lease rent, subject to condition applicable in such supply of services as per notification number 11/2017-Central Tax(Rate) Dated 28-6-17. At the termination of lease agreement/contract, if the vehicle is not further leased to same or other customer, the applicant shall be liable to reverse the ITC so availed as per law and such vehicles should abide by the norms and regulations of the Motor Vehicle Act. in accordance to be registered for commercial use with the Transport authority and not be put to own use by the applicant

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